News: EIC-funded company Vetbiobank raises €1 Million and obtains pharmaceutical manufacturer licence for veterinary cell-based products
Vetbiobank is specialized in veterinary regenerative medicine. The French biotech company is leveraging the unique biological potential of neonatal stem cells to provide veterinarians with biological products at the highest grade of quality to increase the odds of improving animal wellbeing. This year the company has hit a new fundraising round with €1 Million led by Club Holnest and Business Angels co-investing in this market.
Some of the key factors working in favour of the global canine stem cell therapy market are the rising prevalence of chronic diseases in dogs, an increase in spending on R&D activities, a surge in investment and expenditure on companion animals across the world. Moreover, studies showing the excellent level of safety granted by allogeneic stem cell therapy are also rising in numbers, leading to increased confidence among pet owners as well as veterinarians regarding canine stem cell therapy. The high user satisfaction among consumers and the support of its historical shareholders have allowed Vetbiobank to gain new investors, including the Club Holnest owned by Alexandre Aulas.
"We were impressed by Vetbiobank's approach, which addresses major issues in animal health, in a completely ethical way with neonatal stem cells. I believe that Vetbiobank will soon become a major player in veterinary innovation”, explained Alexandre Aulas.
Technological advances in diagnostic practices, awareness about the treatment of chronic diseases, and high emphasis on prevention and wellness by veterinarians are expected to propel the demand for canine stem cell therapy measures across the globe in the next few years.
Vetbiobank aims to revolutionize the field of regenerative medicine by introducing the unique cell therapy based on neonatal stem cells. These cells have many advantages over adult cells: the source material is accessible & abundant and is the only source of cells that does not require any invasive intervention in healthy donors and thus fully respects animal welfare. Besides this, cells show stronger anti-inflammatory properties, and lower immunogenicity profile which allows for unrestricted allogeneic use. The main goal of this project is to finalise industrialization and bring to market the reliable cell-based solution for canine osteoarthritis.
“With this fundraising, we want to bring this therapeutic innovation to the largest number of families who have to take care of canine osteoarthritis” added Stéphane Maddens, CEO and founder of Vetbiobank, during an interview to the journal Ecomnews.
This year Vetbiobank received a Phase 1 grant from the EIC SME Instrument program. Since November 2019, the company has also obtained from regulatory agencies the licence to manufacture animal-cell based products, a prerequisite for any additional clinical validation before Marketing Authorisation. Vetbiobank is estimating to earn €26 million profits, hire 19 people and reach a Return of Investment of 4.2 Euros after 5 years in the market.